For the development of Dholera SIR, the Government of India (through DMIC Trust) and the Government of Gujarat (through DSIRDA) formed a Special Purpose Vehicle (SPV) called ‘Dholera Industrial City Development Ltd.’ (DICDL) on Jan 28, 2016. The SPV is made up of a 51% stake of the Government of Gujarat through DSIRDA and a 49% stake of Government of India through DMIC Trust.

DICDL has been formed with an initial capital of 6,000 crore out of which ~ 900 crore has already been released by the DMIC Trust against equity contribution for Activation Area work. The equity on part of the Government of Gujarat through DSIRDA is in form of land, which is allocated to SPV DICDL. The DMIC trust has already approved the activation trunk infrastructure project on 4,400 Crores.

DMICDC

The Government of India has envisaged the development of the Delhi Mumbai Industrial Corridor (DMIC) along the alignment of the proposed Multi-­‐Modal High Axle Load Western Dedicated Freight Corridor (DFC) between Delhi and Mumbai, covering an overall length of 1,483 km.

The Delhi Mumbai Industrial Corridor Development Corporation Limited (DMICDC), a special purpose company, was incorporated to establish, promote and facilitate development of the DMIC Project. In Phase‐1 of the DMIC project, DMICDC is developing eight industrial cities/nodes. Dholera Special Investment Region (DSIR) is the largest of the eight industrial smart cities in Phase‐1 of the project.

The State Government constituted the Dholera Special Investment Regional Development Authority (DSIRDA) for the development of Dholera SIR and to prepare the land use plan, town planning scheme and the development plan for the SIR.